Uruguay Industry September 2019

Uruguay

Uruguay: Industrial output growth jumps to 11-month high in September

November 11, 2019

Industrial production rose 4.3% in annual terms in September, accelerating slightly from August’s 4.1% increase and marking the strongest increase since October 2018.

Industrial output excluding refinery output increased 2.6% year-on-year in September, slowing from August’s 5.3% jump. Looking at a breakdown of the sub-components, marked increases in the production of food and drinks, petroleum and coal products, and paper and paper products led the overall expansion.

Meanwhile, annual average variation in industrial production fell from 0.7% in August to minus 0.1% in September, marking the first contraction since May 2018.

FocusEconomics panelists expect industrial production to fall 1.6% in 2020, which is up 0.3 percentage points from last month’s forecast. For 2021, the panel sees industrial output growth at 2.8%.


Author:, Economist

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Uruguay Industry September 2019

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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